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so i was randomly searching HT and i see an add for a lease takeover for a pontiac GTO. 04 model (so 350hp only) and 6spd. the payment is $300usd/month, no money upfront, 24month left on the lease, 27000mi left on the lease allowance
i never thought i'd get another american branded product after the focus.. but it seems like a decent amount of performance (with warranty) for a reasonable price
what do you guys think about this situation?
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GTO = yeah... I'd go for it. Only thing I hate about the GTO is the styling. Reminds me of a big Grand Prix.
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Oscar The Grouch,Sep 13 2005, 11:07 PM Wrote:GTO = yeah... I'd go for it. Only thing I hate about the GTO is the styling. Reminds me of a big Grand Prix.
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Id go for a new mustang GT myself, looks better and won't have to wait 6 weeks for parts if something ever happens :lol: Like one guy in the US i was readin about. The GTO's are having trouble with water leaking into the car and new carpet is coming in 6 weeks :lol: Gota love those aussie built cars
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GTO's are pretty sweet but for the problems... but I guess that can be said about a tonne of domestics...
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I like the performance of the GTO, but it looks like a Grand Am, which is not good. Are you in the U.S.?
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To bad it's an Aussie Monaro with a GTO name badge!
The only thing new is the name.(and brought to north America)
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I'd definatley get it.... I'd love even a 6spd grand prix. (if they made one)
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it's GM, I'd avoid it - but that's just me
the price is not bad for the lease take over, but yeah you might want to really look into the problems with them before really concidering it.
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Frost__2001,Sep 14 2005, 11:59 AM Wrote:it's GM, I'd avoid it - but that's just me
the price is not bad for the lease take over, but yeah you might want to really look into the problems with them before really concidering it.
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And parts are not readily available, it's takes a week to like get parts for them. Some even longer. The mustang GT outperforms it to i believe. Pretty sad really, the first year gto was a bomb, the new ones arn't bad but still not great and still don't sell well at all. GM made a huge mistake with that car
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I dont know what the reliability is but the engine is strong and has been around for awhile now. The price is really good too, its like 25 dollars less then my focus and its a lease too.
If you like the car go for it, but read up on the gto fourms Im sure they have alot of info by now on this car. Its one of the nicer cars that GM has thats for sure.
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Hey Naz.....
is there any equity in the lease?.....what are the rest of the numbers?
original down payment?
monthly taxes?
estimated wholesale price at end of lease?
estimated retail at end of lease?
and finally your buy out....
I have managed fleets for years and the numbers never lie and dont ever get a hardon for any leased vehicle....its not yours...
anyway if there is equity there that gives you a back door to get out if you dont like it after awile.....
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^^--- good advise.
I'm not a big fan of their styling, but the performance is there.
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Kool_ZX3,Sep 14 2005, 11:03 AM Wrote:Frost__2001,Sep 14 2005, 11:59 AM Wrote:it's GM, I'd avoid it - but that's just me
the price is not bad for the lease take over, but yeah you might want to really look into the problems with them before really concidering it.
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The mustang GT outperforms it to i believe.
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The GT doesn't stand a chance next to that Vette motor.
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dad,Sep 15 2005, 02:25 AM Wrote:Hey Naz.....
is there any equity in the lease?.....what are the rest of the numbers?
anyway if there is equity there that gives you a back door to get out if you dont like it after awile.....
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how can there ever be equity in a lease? isn't leasing like 'renting' ie never building any equity?
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naz,Sep 18 2005, 11:14 PM Wrote:dad,Sep 15 2005, 02:25 AM Wrote:Hey Naz.....
is there any equity in the lease?.....what are the rest of the numbers?
anyway if there is equity there that gives you a back door to get out if you dont like it after awile.....
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how can there ever be equity in a lease? isn't leasing like 'renting' ie never building any equity?
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I believe "equity" in this case means transferability (to another car offered by the same leasing company) but I can be corrected?
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09-19-2005, 02:44 PM
(This post was last modified: 09-19-2005, 02:55 PM by Kool_ZX3.)
CanadaSVT,Sep 15 2005, 08:02 AM Wrote:Kool_ZX3,Sep 14 2005, 11:03 AM Wrote:Frost__2001,Sep 14 2005, 11:59 AM Wrote:it's GM, I'd avoid it - but that's just me
the price is not bad for the lease take over, but yeah you might want to really look into the problems with them before really concidering it.
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The mustang GT outperforms it to i believe.
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The GT doesn't stand a chance next to that Vette motor.
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Yah i just checked the camparo again, the gto out performed it but the mustang one b/c of it's much nicer styling and price tag. But that was the 400hp GTO so the older 350hp version i think the stang would give it a good run. Still look nicer and cost less doing it to. The GTO in my eyes was just an overwright oversized cavalier/grand prix that was slower and cost more then it should of. The 400hp got faster but still looks bland
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okay ....A lease can be a crazy complicated thing......lets try to go simple here...
pretend for a minute you are the dealer and a customer wants out of his leased car and wants to purchase a new one from you....
You would need to know first of all what the wholesale for that vehicle in that vehicles exact condition would be.Okay so you find this out...now most leases have buyout clauses burried into them as a contingent should someone want out...this could be as simple as your end of term buyout plus the total dollars left if you were to add up all of your payments left to get to your end of term.
so if your buyout is say $9500.00 and the number of payments left is 14 at $250.00 this would be 9500+(14x250)=13000.00
so if the wholesale on this vehicle were $15000.00 than there is equity in the buyout.
now this is a gross oversimplification of most lease terms but the theory is usually the same.Now the original down payment, interest charged and what the negotiated original price was all factor into the end buyout and the payments so they also effect the lease equity.....
check the lease terms it will all be there....never do a lease takeover without knowing all the terms....you can win bigtime if the vehicle you purchase holds value well....but do your homework here
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